Does anyone know what the instructions are for calculating the MAPR? We are going to comply with the John Warner Act instead of amending our policy to not do loans with terms that fall under the act.

Is there anyone who has created forms for this that we could compare our forms to?

Simple. Treat all fees as PFCs (unless they're included somewhere in the payment schedule) and follow these instructions.

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Simple. Treat all fees as PFCs (unless they're included somewhere in the payment schedule) [/quote]

So if the fees are already PFCs, there will be no difference, so the APR and MAPR would be the same, correct?

Ok, I obviously have no idea how to do the little quote in a box thing. ha ha

Yes, that's correct. If the loan is covered you still have to disclose both rates and you must stay within the 36% ceiling.

You were only off by one character. Substitute a left bracket"[" for the slash in your opening markup.

Thanks so much, Richard.